Breaking Down Your Database
Nothing is more important than engaging with your people!
We often come across clichés like:
"Organization is the key to success."
"Stay organized, stay ahead."
"Tidy space, clear mind."
But the truth is: clichés can often hit the mark, especially for realtors.
I know, because it’s the same for me. In our line of work, engaging with the people we do business with is paramount. We refer to them as our database, which we categorize into four distinct groups:
- Leads: These are people who have shown some interest in working with you as a realtor. They may have reached out for information or attended an event you organized.
- Prospects: Prospects are individuals who have taken a step further and are actively considering working with you. They might have attended property viewings or engaged in discussions about their real estate needs.
- Customers: Customers are people who have completed a transaction with you. They have bought or sold a property with your help.
- Clients: Clients are loyal customers who have worked with you multiple times or referred others to you. They trust your expertise and have an ongoing relationship with you.
Each category requires a different approach to nurturing, and misclassifying individuals in your database can result in missed opportunities to engage with them effectively, at the right time.
For instance, you wouldn't communicate with a client that you’ve worked with for several years in the same manner as you would with a lead who just started exploring their first property a month ago.
If your goal is to convert most of these contacts into customers and clients, understanding their current stage is crucial for developing a strategy to achieve that end goal.
Do you have a customer you want to turn into a client?
Impress them.
Consider thoughtful gestures like gifting, conducting home anniversary phone calls, sending personalized snail mail, and implementing Annual Review calls. We execute similar strategies with our clients, and we’ve seen a significant difference in referral business because of it! These efforts can help your clients realize that you're committed to working with them even after the initial deal is closed.
Actions like these have the potential to secure you a client for life. However, if you fail to label them accordingly in your database, you'll remain unaware of the opportunities that lie within.
P.S. Remember, even if someone doesn't become a customer right away, they can still be valuable contacts in your database. Just because they didn't choose to work with you now doesn't mean they won't in the future.
Get your database organized and grow your business!
Let’s Go!
xo – KG